EPA seen publishing lower 2021 and 2022 RVOs to help oil refiners battle high RIN prices

In Washington, Bloomberg reports that the Biden Administration is exploring lower biofuel blending volumes for 2021 and 2022 in an effort to help oil refiners that have been suffering from high RIN prices that have reached as much as $2 each recently. With the suggested blending mandates expected to be published by the Environmental Protection Agency, the proposal is likely to come after the Supreme Court makes its ruling on EPA policy to determine who does and does not get a small refiner exemption under the Renewable Fuels Standard.